Arbejdsmarkedets Tillaegspension Decreases Stake in Nextpower Inc. $NXT

Arbejdsmarkedets Tillaegspension cut its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 22.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 202,920 shares of the company’s stock after selling 59,656 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in Nextpower were worth $24,462,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after acquiring an additional 223 shares in the last quarter. Huntington National Bank increased its position in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Nextpower in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextpower Stock Performance

Shares of NASDAQ:NXT opened at $99.67 on Tuesday. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.20 and a beta of 1.86. The company has a 50-day simple moving average of $125.34 and a 200-day simple moving average of $115.34.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, research analysts forecast that Nextpower Inc. will post 3.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Nextpower in a research report on Friday, May 29th. UBS Group restated a “buy” rating and issued a $170.00 price target on shares of Nextpower in a research note on Friday, May 29th. Glj Research lifted their price target on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Barclays upped their price objective on Nextpower from $142.00 to $147.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Truist Financial set a $140.00 price objective on Nextpower in a report on Monday. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.06.

Insider Activity at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the transaction, the chief financial officer directly owned 358,500 shares in the company, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares in the company, valued at approximately $33,158,633.60. The trade was a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 168,574 shares of company stock worth $22,559,770 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Nextpower Profile

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.